ICICI Bank was the top gainer in the Sensex pack, surging 4.64 per cent, followed by Axis Bank at 3.86 per cent and SBI 2.53 per cent.
Broader market outperformed with the S&P BSE Midcap index adding 0.7%, while S&P BSE Smallcap index gained 0.6%.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen ended at 3,355.16 points and the Shanghai Composite Index at 3,116.35.
The broader NSE Nifty scaled a high of 10,856.55 before closing up by 55.90 points, or 0.52 per cent
This is the highest closing for both the indices since May 15.
HDFC Bank was the top loser in the Sensex pack, falling 2.99 per cent, followed by Adani Ports at 2.87 per cent.
Sensex lost 184 points to trade at 23,878 and the Nifty has dropped 55 points to quote at 7,254.
Broader market underperformed the headline indices with BSE Midcap and BSE Smallcap finishing in red
Extending losses for 7th session, Nifty fell below the 8,000 mark for the first time since Nov 25
The broader NSE Nifty closed 1.25 points, or 0.01 per cent down at 10,564.05.
RIL, ICICI Bank, Tata Motors and ONGC alone contributed to a 100 point cut seen on Sensex.
Markets ended in red; index heavyweight under pressure.
In the Sensex kitty, ITC turned star performer by surging 2.45 per cent, followed by NTPC rising 2.19 per cent.
The broader NSE Nifty dipped below the 10,200-mark to hit a low of 10,180.25 before ending at 10,195.15, down by 165 points, or 1.59 per cent.
Covering-up of short positions ahead of Thursday's expiry of August series in the derivatives segment gave equities a slight push
Top losers in the Sensex pack include Bharti Airtel, Infosys, Asian Paints, RIL, Coal India, HDFC Bank, HDFC, TCS, ONGC and M&M, falling up to 3.09 per cent.
The 50-share NSE Nifty too closed down 168.30 points, or 1.58 per cent, at 10,498.25 -- a level last seen on January 3 when it closed at 10,443.20.
This is its biggest single session fall since August 24, 2015, when it had lost 1,624.51 points.
Thus far in 2017-18, FIIs and MFs have invested Rs 198.91 billion and Rs 1,119.49 billion in the Indian equity markets. Of this, around Rs 152.46 billion has come in January alone.
The job cuts will affect almost a fifth of the bank's workforce.
The broader NSE Nifty index too finished lower by 4.80 points, or 0.05 per cent, at 10,632.20.
Both benchmark indices were driven by strong gains in IT, teck, oil and gas, pharma and banking shares amid earnings optimism.
Markets ended in red, index heavyweights drag.
The fall was led by L&T, IndusInd Bank, PowerGrid, NTPC, TCS, ICICI Bank, Axis Bank, Hero MotoCorp, Bharti Airtel and SBI, declining up to 2.64 per cent.
The NSE Nifty also gained 53 points, or 0.49 per cent, to settle 10,855.15 after shuttling between 10,870.40 and 10,749.40.
The broader NSE Nifty, after cracking below the key 10,300-mark, touched a low of 10,211.25, before finally ending 134.75 points, or 1.30 per cent, down at 10,226.55.
The S&P BSE Sensex plunged 128 points to end at 25,102.
The S&P BSE Sensex shed 42 points to close at 25,838 and the Nifty50 lost 13 points to end at 7,899.
The Nifty rose 176.50 points, or 1.74 per cent, during the week.
Reflecting the bearish mood, all sectoral indices, led by metal, teck and healthcare, ended in the negative zone.
Mixed global cues and decline in crude oil prices further dent the sentiments.
Month-end dollar demand from importers resulted in the rupee touching a new all-time low on Wednesday against the dollar.
Markets ended lower on Tuesday, snapping a two-day winning streak, as investors turned cautious and booked profit in financials.
The broader markets are, however, outperforming the larger peer.
In the Sensex pack, M&M was the biggest loser, tumbling by 6.66 per cent, followed by TCS dropping 4.14 per cent.
The S&P BSE Sensex surged 217 points to end at 25,736.
The fall came on the back of a massive selloff in NBFCs, led by DHFL which skidded over 50 per cent on fears of a liquidity crisis.
Broader market outperformed the benchmark indices with S&P BSE Midcap gaining over 1%
Coal India fell the most by 2.58 per cent among Sensex scrips, dragging the index into the negative zone.
Tata Steel, SBI, Infosys and L&T were among the top gainers for the day.
